Name a product you must have if you own a home. If you said homeowner’s insurance give yourself a pat on the back. Even as a renter it is a wise idea to have renter’s insurance to protect losses from burglary, fire, etc.
Now name the one thing you should not do with these policies. If you said make a claim give yourself another pat on the back.
I live with my girlfriend who owns her house outright. She has been with the same insurance company for many, many years. I will not name names as I have come to learn these companies are vindictive. Just as an aside my girlfriend is financially stable, has been employed steadily for the last 25 years as a teacher, and has a good credit rating.
Several years ago due reasons beyond her control there a sewage backup that ruined practically everything on the first floor and the basement of her house. The company graciously took care of everything. Continue reading “Insurance Companies: Not Price Fixing, But Just As Bad”